Envirotech Vehicles Discusses Representative Agreements and Appointment of Pam Compton with The Stock Day Podcast
Phoenix, Arizona--(Newsfile Corp. - July 13, 2021) - The Stock Day Podcast welcomed Envirotech Vehicles (OTCQB: ADOM) ("the Company"), a provider of purpose-built zero-emission electric vehicles focused on reducing the total cost of vehicle ownership and helping fleet operators unlock the benefits of green technology. CEO of the Company, Phillip Oldridge, joined Stock Day host, Everett Jolly.
Jolly began the interview by asking about the Company's background and current projects. "Envirotech Vehicles was a company that was originally founded by my brother," said Oldridge. "Adomani Inc. was a company that, prior to being involved with EVT, literally was traded off," he explained, adding that Adomani had previously traded on the NASDAQ. "I had an opportunity to introduce my brother's company to the group," he continued. "We raised $25 million dollars and did a reverse merger of the Adomani company with EVT."
Jolly then asked about the Company's sales strategy, including recent announcements detailing their latest representative agreements. "We have been setting ourselves up across the country working with Factory Authorized Representative (FAR) Agreements," shared Oldridge. "We've entered into about three or four of those agreements so far," he explained. "We're in negotiations with various Authorized Representatives now, so we're very excited about that."
"We are also in negotiations right now with four separate states," continued Oldridge, adding that the Company is looking to open their own manufacturing facilities. "Having our own factory and our own assembly plant in the United States is key to us," he said. "We're working very hard to get that done."
The conversation then turned to the Company's commercial application focus. "The space that we are in is more in the light to medium-duty, and we are rapidly moving the heavy-duty commercial vehicle space," said Oldridge. "We now have a Class 5 and Class 6 truck chassis and truck build, of which we have 15 arriving before the end of this year."
"We have not announced to anyone yet, but we have completed our first Class 8 tractor, which is up to 80,000 lbs," shared Oldridge. "God willing, we will have that on the ground here at the end of the year," he said. "We're working real hard to get that done."
Oldridge then elaborated on the Company's competitive advantages in terms of providing purpose built vehicles instead of retro-fitted vehicles. "Safety is paramount," said Oldridge, as he elaborated on the Company's high standards for the vehicles they develop. "For me, I want to make sure [the vehicles] conform completely and are fully certified."
"What does Pam Compton bring to the team?" asked Jolly. "As a company, we are tremendously excited about that," said Oldridge. "This is an individual that has had a career of nearly forty years in banking," he shared, elaborating on Compton's experience. "We were very grateful and very fortunate," he added. "Her official start date is July 19th, and we're super excited to have her with us."
"Any thoughts of uplisting to the NASDAQ or NYSE?" asked Jolly. "Now that we have taken over EVT and acquired EVT, and they have the largest amount of the corporation now in the consolidation, there are too many shares issued and outstanding," said Oldridge. "To do a rollback, which would bring the stock back to where it would need to be, it would make the company a lot tighter and would increase its value," he continued. "I think it would serve us very well."
To close the interview, Oldridge elaborated on the potential of the Company, especially considering their current valuation and upcoming projects. "We're heading down the path, we're making deliveries, and we have some good production coming," said Oldridge. "Let us do what we do best and we will do our very best to provide great value to our shareholders."
To hear Phillip Oldridge's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7904159-envirotech-vehicles-discusses-representative-agreements-and-appointment-of-pam-compton-with-the-s.
About Envirotech Vehicles
Envirotech Vehicles is a provider of purpose-built zero-emission electric vehicles focused on reducing the total cost of vehicle ownership and helping fleet operators unlock the benefits of green technology. We serve commercial and last-mile fleets, school districts, public and private transportation service companies and colleges and universities to meet the increasing demand for light-to- heavy duty electric vehicles. Our vehicles address the challenges of traditional fuel price cost instability and local, state and federal environmental regulatory compliance. For more information visit www.EVTVUSA.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements made in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in reports filed by ADOMANI, Inc. (DBA Envirotech Vehicles) with the Securities and Exchange Commission, all of which are available online at www.sec.gov. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expected," "believes," "strategy," "opportunity," "anticipated," "outlook," "designed," and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, Envirotech Vehicles undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
Investor Relations Contacts:
IMS Investor Relations
John Nesbett/Jennifer Belodeau
Michael K. Menerey, Chief Financial Officer
Telephone: (951) 407-9860 ext. 1205
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